Joe Cangemi
Joe Cangemi
bottom bring economy economy-and-economics
Fundamentally, this economy is in recovery. But we do need to bring it to the bottom line.
headlines keeping markets
Headlines have been keeping the markets emotionally tapped.
activity condition difficult economic given market number recovery shows
There's been a sense of complacency in the market all week. It's very difficult to read too much into this week's activity given the condition we're in right now. The morning's unemployment number wasn't encouraging. It shows the economic recovery is not very strong.
anticipate building doubt forward half next positive reinforced second starting tone traders year
I think the positive tone has been reinforced this week. Going forward into next week, there's no doubt traders are starting to anticipate that the second half of the year is going to start to be a positive building point.
market sent
That NAPM really sent the market on a run.
continues feeling money moving negative stocks volatile
It continues to give a negative feeling that the story is an off-again story. It's been difficult, but the stocks have been volatile and institutions have been moving money in and out.
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You get the feeling people would like to follow through, but there's no conviction. We're in a range here. It's a mixed bag. We need to see a clear bottom before we can really move on.